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M&A WATCH-
#1- HR advisory Tharwah signed a binding MoU to acquire a 49% stake in Amjad Watan Exhibitions and Conferences Organization Company, a one-person entity, it said in a filing to Tadawul. The six-month agreement will allow Tharwah to complete due diligence procedures and obtain related regulatory and shareholder approvals, before finalizing the acquisition. No financial advisor has been appointed yet.
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#2- Agricultural Development Company — a unit of Tanmiah Food — inked a SAR 143 mn agreement to acquire a new poultry processing plant from Dajin Poultry Company, the parent company said in a filing to Tadawul. The move plays into the company’s plans to ramp up production capacity by next year. The company will tap its existing banking facilities to finance the purchase.
HEALTHCARE-
Nupco mulls partnerships with BGI: The National Unified Procurement Company (Nupco) signed an MoU with Chinese biotech group BGI to probe potential partnerships in the Kingdom’s medical supply chain, preventive healthcare sector, and logistics services for transporting biological specimens, according to state news agency (SPA).
TRAVEL-
Avolta lands in the Kingdom with F&B play at Riyadh airport: Swiss-based travel retailer Avolta AG secured a contract to operate 10 food and beverage (F&B) outlets across Terminals 1 and 2 at Riyadh’s King Khalid International Airport, it said in a press release. The Saudi debut grants Avolta access to over 28 mn passengers per year, to which it will introduce a mix of global brands like L’ETO and local favorites like Dallah Coffee.
